Foyle Port posts record turnover of £9.1m

Foyle Port has posted record turnover of £9.1m while pre-tax profits now sit at £1.6m.

Londonderry Port and Harbour Commissioners reported a record turnover of £9.1m for the year to March 31, 2018.

The 5% rise over the year means turnover at the port has trebled in 15 years.

Pre-tax profits were down 19% year-on-year, dropping from £2m to £1.6m.

Foyle Port chief executive, Brian McGrath, said:

“The outstanding corporate performance of the organisation, year on year, demonstrates the in-depth strength of our operational team.”

“The port’s location at Lisahally underpins our key position as an Atlantic gateway for the United Kingdom and Europe. Furthermore, the port’s operations straddle both British and Irish jurisdictions.”

And Foyle Port chairman, Bonnie Anley, said since “the launch of our new strategy, our performance has outstripped targets and the port business has continued to grow.

“This model has increased our resilience and put Foyle Port on a strong footing to meet any challenges that lie ahead.”

“As we move closer towards Britain’s exit from the European Union we will need to navigate change and uncertainty, both locally and nationally.”

“Our strong business model, coupled with our dedicated port team, leave me in no doubt that Foyle Port has the flexibility needed to adapt to a new commercial context and the innovation needed to capitalise on all new opportunities arising in the future.”